12 Hospitality Crypto Projects That Promised Disruption
Hospitality can cover a broad spectrum – from restaurants to hotels, from flights to loyalty programs. Consider that Americans spending 44% of their budget eating out and the hotel industry sustaining a 5-6% annual growth. This make hospitality a prime market for blockchain disruption.
Blockchain’s ledger technology, smart contracts, and top security work well for the hospitality industry. The technology enables more transparent supply chains, tamper-proof booking and management systems, and automated payments and rewards systems.
Want to get a better idea of which blockchain projects are succeeding and which are falling by the wayside? Check out how these promising hospitality blockchain projects are faring in 2019.
GoEureka is a Singapore-based travel and tourism company hoping to disrupt the industry with blockchain. This decentralized platform connects hotels with potential guests. This helps shorten the supply chain and increase sales channels and transparency.
Where is GoEureka in 2019? Having closed their ICO in November 2018, the hotel blockchain platform raised enough to get up and running quickly. GoEureka has over 400,000 hotels partnered already, a year later. These include big names like Hilton, St Regis, Ritz-Carlton, and Accor.
An Indian start-up, OYO rooms is seeking to help budget hotels reach customers by creating a transparent blockchain network. The hotel network also facilitates real-word standardization of amenities, services, and branding across these hotels. This creates more consistent management and brand image across the OYO network.
OYO Rooms has already enjoyed $1.7 billion funding from the likes of Airbnb ($75M), Grab ($100M), Huazhu Hotels Group (10M), and Softbank ($1.44B).
Where is OYO Rooms in 2019? With such a substantial budget in which to work, OYO Rooms has expanded beyond India quickly. Now serving 18 countries and 800 cities, OYO Rooms has a grip all around the world.
Australia-born restaurant loyalty platform, LivenPay, didn’t start out as a blockchain endeavor. As the company has progressed, with over 5000 restaurants on their books, the benefits of blockchain tech have now become clear. The platform now uses its native token, LVN, as a payment and reward mechanism for customers, and a way for restaurants to promote themselves.
LivenPay raised $18.8 million from 5 funding rounds. The restaurant payment platform is mostly backed by angel investment from co-founder, Grace Wong, and investment firm Mayfair 101.
Where is LivenPay in 2019? Pressing forward, LivenPay welcomed CEO of a bitcoin.com, Roger Ver, as an advisor earlier this year. The progressive startup also won Blockchain and Digital Currency Vertical XTC 2019.
Tackling authenticity and transparency in restaurant and food production supply chains, FoodLogiQ is providing an end-to-end blockchain solution to connect suppliers, restauranteurs, and customers. The system enables traceability for transparency, particularly focusing on preventing foodborne disease.
Three rounds of funding have supplied FoodLogiQ with $31.8 million. Investors include Testo, Tyson Ventures, and Greenhouse Capital Partners.
Where is FoodLogiQ in 2019? The project’s growth trajectory has led to a recent boost in C-Suite members. This year, the food supply chain project also joined with the Partnership for Food Safety Education. This partnership with see FoodLogiQ help in the prevention of food-borne illnesses.
Japanese-based blockchain start-up, Synchrolife, is offering the world’s first restaurant platform that rewards users for high-quality reviews. The platform, a subsidiary of Ginkan, rewards users in their native token, SYC.
Synchrolife have one major investor, Ceres, a digital media and marketing company in Japan.
Where is Synchrolife in 2019? Synchrolife’s platform has launched and is now available in over 150 countries. With 82 countries currently using the platform, Synchrolife is available in 4 languages. The platform’s token, SynchroCoin, recently listed on LAToken.
LOCKTrip dubs itself as the world’s first hotel and vacation rental marketplace with 0% commission. The platform offers users up to 20% off holiday stays by leveraging blockchain to cut out middlemen. The marketplace is fuelled by their native token, LOC.
The vacation rental marketplace raised $4.5 million from 4200 backers in their 2017 ICO, reaching their hard cap.
Where is LOCKTrip in 2019? With over 400,000 hotels on the platform, LOCKTrip has a community of over 20,000 users. LOCKTrip recently launched the TestNet 1 Reward Distribution system in September 2019.
Looking to disrupt the hospitality industry in regards to travel, Winding Tree is providing a network that allows service providers to connect with travel sales teams worldwide. The software also enables travel providers to accept FIAT, credit card, ETH and LIF (Winding Tree’s native token).
Only having been through one round of venture funding, Winding Tree raised $1.5 million from Haitaos Capital back in 2017.
Where is Winding Tree in 2019? Slowly plodding along, Winding Tree religiously provides technical updates each week. The company pioneered the Travel Tech Business #HackTravel Hackathon earlier this year. It has also partnered with some substantial hospitality companies, such as Air France, Lufthansa, and Eurowings.
Another decentralized hospitality marketplace, XcelTrip also offers users a place to find cheap flights and hotels. The platform harnesses blockchain advantages to ease processing and cut out the middlemen. XcelTrip aims to branch out into restaurants, tours, transport, and entertainment to create a truly decentralized hospitality ecosystem.
The company entered Series A funding at the beginning of this year, scoring $1 million from HKSE.
Where is XcelTrip in 2019? With over 800,000 hotels on their books and 400 airlines partnered with the platform, XcelTrip has taken off globally. The company has broadened its token usage, enabling mobile payments in Colombia and Cyprus using Xceltoken Plus.
TRUST is a blockchain project set to improve restaurant efficiency through its Stellar-based transaction infrastructure. The platform aims to speed up the transfer of goods, while also enabling the tokenization of all elements of the restaurant business.
Where is TRUST in 2019? The company has been relatively quiet as they work on approving the new TRUST New Token, set to release this year. TRUST is counting on seeding funding in 2019, but this has yet to be announced.
Germany-based restaurant token, LEAF Token, is aiming to digitalize gastronomy. The platform works to reward users for loyalty. Users can earn the LEAF token for repeated custom and use this to earn VIP status for better rewards.
LEAF Tokens ICO finished in July of this year, but as of yet, figures haven’t been released.
Where is LEAF Token in 2019? Successfully closing their ICO in July, LEAF Token is jumping straight in to pilot their system with 5 restaurants across Austria and Germany. The company is focusing on expanding brand awareness and has been seen attending conferences such as the Blockchain Future Festival 2019.
Taiwan-based blockchain development firm, OwlTing has put together a sophisticated hospitality management software, OwlNest, that utilizes blockchain technology. The SaaS software combines a booking engine and property management system for service providers.
The company has raised 5.7 million since it was founded. This capital has come from 2 main investors: SBI Investment and Midana Capital.
Where is OwlNest in 2019? With the software fully-functional and available for purchase, OwlTing has an impressive array of corporate partners. These include Hotels.com, Agoda, HostelWorld, Expedia, and Booking.com.
A blockchain platform designed to leverage reviews, Gastro Advisor allows users to review and recommend restaurants, as well as searching for recommendations and booking. Users can earn FORK tokens for reviewing and participating in the network.
The ICO closed in July of this year, but nothing has been announced regarding token sales.
Where is Gastro Advisor in 2019? Gastro Advisor has recently listed the FORK token on XULT exchange, Faucet, and CMC.io. Another announcement also declares a new partnership with Walledo. This venture will allow Gastro Advisor’s participating restaurants to accept a range of cryptocurrencies.